Question: Please selectthefour (4) situations that would be best suited for a buyer to use competitive bidding as part of the supplier selection process. Group of

Please selectthefour (4) situations that would be best suited for a buyer to use competitive bidding as part of the supplier selection process.

Group of answer choices

The lead time for the purchase is greater than 1 year.

Most of the available suppliers would not meet the buyer's quality or capacity requirements.

More than 3 capable suppliers available to supply the product.

High purchase volume (quantity)

The product being purchased has clear specifications and/or requirements.

The current supplier is excellent.

The buyer does not already have preferred supplier(s).

The product being purchased is a service.

The specifications of the product are complex.

Suppliers must be involved early in the procurement/sourcing process.

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